PITTSBURGH (KDKA) — Hhgregg, the Indianapolis-based appliance and electronic retailer, is closing its North Hills store on McKnight Road.
CEO Robert Riesback said in a statement, “We are strategically exiting markets and stores that are not financially profitable for us. This is a proactive decision to streamline our footprint in markets where we have been, and will continue to be.”
The closing of the North Hills store will leave two in this region — one in Robinson and one in Monroeville.
Hhgregg has lost money in the last two years and had a particularly bad Christmas season.
Lots of rumors are out there that the company is going bankrupt.
Closing 88 of its 200-plus stores might be a way to avoid bankruptcy.
A spokesperson for the company says nine employees will be affected locally, some transferred to openings in the other stores and others laid off.
When hhgregg entered the market, many thought it would be a strong competitor to Best Buy, but the company says many of its stores have been under-performing.
Besides the North Hills stores, hhgregg is closing 15 other stores across the state and its distribution center in Philadelphia.
The North Hills store could close as early as April, and all inventory will be liquidated over the coming weeks, meaning sales and lower pricing for consumers.